Hyosung Heavy Industries Corp. is investing $157 million in its Power transformer plant in Memphis, Tennessee to increase production capacity by over 50% by 2028. The Memphis plant is the only facility in the U.S. capable of designing and manufacturing 765kV Power transformers, known for reducing transmission losses. With a total investment of $300 million, including the Memphis plant acquisition, Hyosung aims to make the facility the largest in the U.S. The company’s shares closed at 1,962,000 KRW on the Korea Stock Exchange on Friday.

Read more at Nasdaq: Hyosung Heavy Industries To Invest $157 Mln In Power Transformer Plant